Japan to Give 5,500 Crore Loan For Metro Rail Projects

New Delhi: Japan will give development assistance loans worth 5,479 crore for the Chennai and Ahmedabad Metro projects, an official statement said.

"The latest initiative is the agreement signed between the governments of India and Japan for an official development assistance loan of an amount of JPY 19.981 billion (around 1,069 crore) for the Chennai Metro Rail Project (IV) and JPY 82.434 billion (around 4,410 crore) for the Ahmedabad Metro Project," the India's finance ministry said in a statement here.

Noting India attaches highest importance to infrastructure projects, it said: "Within urban infrastructure, provision of metro rail gains more importance because of its environment friendly nature. It reduces the traffic congestion in the cities where the traffic is over flowing and also reduces greenhouse gas emission."

India is continuously making efforts to obtain bilateral and multilateral funding to meet this financial requirement, it added.
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